Hindustan Media Ventures , a prominent player in the Indian media landscape, has announced plans to make a strategic investment in the blockchain and NFT space. The company is set to invest up to ₹7.60 crore in XCM Technologies, also known as Toyow, a Canada-based firm specializing in blockchain technology and non-fungible tokens (NFTs).

Investment Details

The investment, as disclosed by Hindustan Media Ventures, will be structured through either equity or Compulsorily Convertible Preference Shares (CCPS). This move signals the company's interest in diversifying its portfolio and exploring opportunities in the rapidly evolving digital asset sector.

Strategic Implications

This investment marks a significant step for Hindustan Media Ventures as it ventures into the blockchain and NFT ecosystem. By partnering with XCM Technologies, the company positions itself to potentially leverage blockchain technology and NFTs in its media operations or explore new revenue streams in the digital space.

About XCM Technologies (Toyow)

XCM Technologies, operating under the name Toyow, is a Canada-based company that focuses on blockchain technology and NFTs. While specific details about the company's operations and products are not provided in the announcement, their expertise in these cutting-edge technologies has attracted the attention of Hindustan Media Ventures.

Conclusion

As the media industry continues to evolve in the digital age, Hindustan Media Ventures' investment in XCM Technologies reflects a broader trend of traditional media companies exploring innovative technologies. This move could potentially open up new opportunities for the company in the rapidly growing blockchain and NFT markets, although the specific applications and outcomes of this investment remain to be seen.

Hindustan Media Ventures Limited (HMVL) has reported a 6% year-over-year increase in consolidated revenue for the quarter ended June 30, reaching INR 451.00 crore. The company's financial performance shows signs of improvement across various segments, with notable growth in its print and digital businesses.

Financial Highlights

• Consolidated revenue: INR 451.00 crore (up 6% YoY)
• EBITDA: INR 10.00 crore (up 33% YoY)
• PAT: Loss of INR 11.00 crore (59% improvement YoY)
• Cash position: INR 976.00 crore

Print Business Performance

The print business emerged as a key driver of growth for HMVL:

• Advertising revenue: INR 255.00 crore (up 17% YoY)
• Print English advertising revenue: INR 140.00 crore (up 19% YoY)
• Print Hindi advertising revenue: INR 116.00 crore (up 14% YoY)

However, circulation revenue declined by 8% to INR 51.00 crore.

Digital Business Growth

The digital segment showed promising results:

• Revenue: INR 56.00 crore (up 21% YoY)
• Platforms driving growth: Mosaic, Shine, and OTTplay

Despite the revenue increase, the digital segment remained loss-making.

Radio Segment Challenges

The radio business faced headwinds:

• Revenue: INR 31.00 crore (down 13% YoY)
• Operating losses widened

Management Commentary

Chairperson Shobhana Bhartia commented on the results, stating, "The first quarter of the current financial year has begun on a strong note, with both operating revenue and profitability showing growth as compared to the previous year. The Print business has seen strong growth in advertising revenue, reflecting our leading market presence and the continued relevance of Print as an effective medium."

She also noted, "Our Digital businesses continue to show steady momentum, with our platforms – Mosaic, Shine and OTTplay driving growth through differentiated, future-ready offerings. We are working towards accelerating growth of our Digital business, while deepening the impact of our Print offerings and reimagining the Radio business with experiential and integrated formats."

Outlook

HMVL maintains a strong cash position of INR 976.00 crore, providing financial stability as it navigates the evolving media landscape. The company's focus remains on quality journalism, immersive entertainment, and creating relevant experiences for its diverse audience across print, digital, and radio platforms.

As the media industry continues to transform, HMVL's multi-pronged approach to growth across its various segments positions it to capitalize on emerging opportunities while addressing challenges in traditional media formats.